A 25% drop on the HashBit market last week (November 6 - November 12) signals that the sellers are gaining strength.
The bullish behavior of HashBit last week was characterized by the occurrence of downswings. The situation on the HBIT market shows that the underlying asset is currently experiencing a period of high volatility. No rise or fall was observed in the market capitalization of the coin during the period under review. No growth or loss has been observed in trading volume on the crypto coin's market.
The volatility of HashBit was at 166.67% on average, which caused noticeable price fluctuations. November 6 was the day when the asset was the most volatile, with the volatility going as high as 166.67%. The volatility of the coin fell to its lowest on November 12 when it slid to 3.85%. The present volatility of 166.67% is indicative of unstable market conditions.
On November 6, the HashBit market opened at $0.00001, preceded by a period of bullish action. The first day of price action was marked by the 146% move to the upside from the point where the trading session opened. November 7 saw the coin going another 10% since the open, supported by the corresponding trading volume. The price range of HashBit formed between $0.00003 and $0.00003 on November 8 as the price traveled 14% down. Over the next trading period (on November 9), HBIT was moving up by 8% on the back of a congruous trading volume. On November 10, HashBit finished the trading day with no changes to the flatlined market. The crypto coin opened the trading session on November 11 at $0.00003 and finalized it at $0.00003; the highest point of price action was at $0.000028, the lowest was detected at $0.000024. November 12 presented us with the following price action data: the coin opened the period at $0.00003 and went on to establish the low at $0.000024 and the high of the day at $0.000028 before closing the day at $0.00002. During the reviewed time period, the asset was able to achieve the weekly high at $0.00003, though at a certain point, the bear pressurized the price down to the weekly low at $0.00001. HashBit shaped the $0.000008 price range over the week of price action, which constituted the 25% gap between the weekly low and the weekly high.
The past 7 days were marked by a change in average daily trading volume from $357 397 on November 6 to $510 368 on November 12. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the HBIT market had its volume ranging between $117 108 and $571 939. The 79% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 25%.
HBIT experienced no change in total market capitalization during the past week. The price of the coin was not changed, with a 0% shift in its total market capitalization. HashBit market capitalization from the week before experienced no change, as a result there were no price fluctuations.